By Energy Worth The $5.1bn joint venture cash call argument between the Federal Government and international oil companies operating in Nigeria is over, the IOCs have said. In 2016, the IOCs gave the Nigerian National Petroleum Corporation (NNPC), which represents the Federal Government in different JV partnerships, a discount of $1.7bn from the $6.8bn cash…
By Energy Worth NIGERIA LNG Limited, NLNG, is seeking $7 billion from the global financial markets for the sustainability of its operations and expansion project which will increase its production capacity from 22 Million Tonnes Per Annum, MTPA to 30 MTPA. This is part of the moves targeted at ensuring that the taking of Final…
Twenty two days after, the Nigerian Electricity Regulatory Commission (NERC) has insisted that the board and management of Ibadan Electricity Distribution Company (IBEDC) remain suspended for giving an unauthorised loan of N6 billion to its core investor, the Daily Trust exclusively reports. Industry sources on Tuesday said NERC refused to cancel the suspension Order and…
By Nick Cunningham Oil prices fell sharply on Wednesday on news that Libya was suddenly set to restore hundreds of thousands of barrels per day, and the U.S. struck a softer line on Iran sanctions. Brent sank more than 6 percent during midday trading on Wednesday, as Libya’s National Oil Corp. (NOC) said that it…
